Introduction to 'Sovereign Debt: From Safety to Default'

16 Pages Posted: 29 Mar 2011 Last revised: 31 Mar 2011

See all articles by Robert W. Kolb

Robert W. Kolb

Loyola University of Chicago - Department of Finance

Date Written: March 28, 2011


All of the chapters in this volume represent the cutting edge of thinking about sovereign debt. The contributions stem from the authors’ deep expertise in the subject matter. Almost all of the contributions are based on formal academic research conducted in the last two years.

Accordingly, this book spreads before the reader the best thinking on sovereign debt by specialists drawn from top universities and key international financial institutions, including central banks, the International Monetary Fund, and the World Bank. All of the contributions in this volume have been especially written for the intended reader - a nonfinance specialist interested in understanding the vital importance of sovereign debt for the world’s economic future. The book is divided into seven sections, and each is preceded by a brief essay describing the chapters in that section:

I. The Political Economy of Sovereign Debt II. Making Sovereign Debt Work III. Sovereign Defaults, Restructurings, and the Resumption of Borrowing IV. Legal and Contractual Dimensions of Restructurings and Defaults V. Historical Perspectives VI. Sovereign Debt in Emerging Markets VII. Sovereign Debt and Financial Crises

Keywords: debt, public debt, sovereign debt, emerging markets, financial crises, default, restructuring, political economy

JEL Classification: F02, F31, F34, F35, F5, H5, H63

Suggested Citation

Kolb, Robert W., Introduction to 'Sovereign Debt: From Safety to Default' (March 28, 2011). Available at SSRN: or

Robert W. Kolb (Contact Author)

Loyola University of Chicago - Department of Finance

820 North Michigan Avenue
Chicago, IL 60611
United States


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